Friday, October 28, 2005

Two years ago, a $60-million fund was created by state government. Our tax money was put into that fund so as to "jump-start" the local (i.e., Pennsylvania) economy. In October, $29.5 million of that money, a little less than half, was given out to seven venture capital firms. One firm was in the Pittsburgh area.

The aim is to make more money available. However, it seems as if $30.5-million is still frozen and sitting idle. It took two years to handle the first round and that only went to venture capital firms.

What part of 'jump start' is not being understood?

I'd say that Harrisburg and the business incubator weenies have made another great illustration of failure and folly.